|In This Issue ...
- November Manufacturing ISM Report On Business®: PMI at 52.7% — Read more.
- Feature Article: Strategic Cost Management and the Supply Base — Read more.
- December 14 Web Seminar: "Building a Case for Managing Meeting Spend"" — Read more.
- Distinctive Summit for Black Supply Management Professionals Returns in February — Read more.
- Website of Interest — Read more.
- Term of the Day — Read more.
- It's Easy to Subscribe to the Just in ETime Newsletter — Read more.
- Contact Us — Read more.
|November Manufacturing ISM Report On Business®: PMI at 52.7%
Economic activity in the manufacturing sector expanded in November for the 28th consecutive month, and the overall economy grew for the 30th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.
The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. "The PMI registered 52.7 percent, an increase of 1.9 percentage points from October's reading of 50.8 percent, indicating expansion in the manufacturing sector for the 28th consecutive month. The New Orders Index increased 4.3 percentage points from October to 56.7 percent, reflecting the second month of growth after three months of contraction. While the Prices Index, at 45 percent, increased 4 percentage points from the October reading of 41 percent, prices of raw materials continued to decrease (registering below 50 percent) for the second consecutive month. Respondents cite continuing concerns about the general economic environment, government regulations and European financial conditions, but are cautiously more optimistic about the next few months based on lower raw materials pricing and favorable levels of new orders."
To read the entire release, click here.
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|Feature Article: Strategic Cost Management and the Supply Base
Managing cost with suppliers is complex and requires a lot of effort. Some elements of cost complexity include the multiple dimensions and components of cost for any given commodity, product or service (raw materials, labor, packaging, tooling, overhead structures, logistics, profit and so on). To truly understand these cost drivers or elements requires a level of transparency from suppliers. This can be achieved by joint buyer-supplier efforts or alternatively via the use of analytics and benchmarking. Even if a cost breakdown that underpins the price structure is made available, it can be very difficult to understand what the information is telling you.
In the absence of suitable analytics being already available, you will need to develop a cost model or database to provide some level of repeatable and consistent analytical capability. This can be achieved by working with colleagues from other functions such as finance and engineering. Also, consider the total cost of ownership when managing costs with suppliers. The cheapest price is not always the best value if this results in poor delivery, substandard quality or some other failure against a required parameter.
Read this eSide Supply Management article online.
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|December 14 Web Seminar: "Building a Case for Managing Meeting Spend"
Date: Wednesday, December 14, 2011
Time: 1 p.m. EST/12 p.m. CST/10 a.m. PST
Price: No cost
Length: 60 minutes
Format: Streaming Only
For many organizations, meetings represent one of the largest categories of unmanaged but controllable spend. In this web seminar, we'll explore the value of managing meetings spend in a centralized way for visibility and savings, providing examples of how small steps in managing this category can have a big impact. We'll also hear how managing meetings has made a difference within Johnson Controls from the category lead.
Join us for an interactive conversation with two experts in the field — Karen Lynch, Global Lead, Meetings & Events for Johnson Controls, Inc. and Cindy D'Aoust, Vice President, for Maxvantage — as they share their experiences and best practices in building business cases, identifying and understanding the key category stakeholders, and gaining buy-in for meetings management.
- Understand the value and impact from managing meetings.
- Identify examples within your organization that will help build a case for managing meetings.
- Learn approaches to identify key meeting stakeholders within organizations.
- Explore ways to tie meetings management to organizational goals.
- Karen L. Lynch
Global Lead for Meetings & Events
- Cindy D'Aoust
Vice President Shared Services & Business Development
- John Yuva
Inside Supply Management®
Institute for Supply Management™
Attendance of the live session of this Web Seminar qualifies for one CEH credit at ISM.
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|Distinctive Summit for Black Supply Management Professionals Returns in February
Learn from accomplished, world-renowned supply management executives at the 9th Annual Black Executive Supply Management Summit to be held February 8-9, 2012 at the Hilton DFW Lakes Executive Conference Center in Dallas (Grapevine), Texas. The Black Executive Supply Management Summit is for executives and directors in supply, with a special track for students enrolled in supply management degree programs. Session highlights include:
Sustainability and Social Responsibility: Supply Management's Critical Role
Regina O. Edwards, J.D. | Director, Global Procurement | Capital One
Cathy Rodgers | Vice President, Global Opportunities | IBM Global Technology Services, and Chair, ISM Committee on Sustainability and Social Responsibility
Leadership: Its Role in Your Success
Jeffrey Hatchell, MBA (Moderator) | President and Founder | Empower Management Solutions
Shelley Stewart Jr., CPSM | Senior Vice President, Operational Excellence and Chief Procurement Officer | Tyco
Quentin Roach | Chief Procurement Officer and Senior Vice President External Manufacturing & Supplier Quality | Merck & Company, Inc.
Supplier Diversity Still Critical and Important
Gene C. Waddy | Chief Executive Officer | DIVERSANT LLC
James Lowry | Senior Advisor & Business Development Expert | Boston Consulting Group
Jacquelyn Howard | Senior Director of Strategic Sourcing, US Supply Chain Management | McDonald's USA, LLC
ISM is co-locating the 9th Annual Black Executive Supply Management Summit, the 4th Annual Women Executive Supply Management Summit and the 5th Annual Hispanic Supply Management Summit. Each Summit has its own set of workshops, but general sessions are held together. Additional time has been built into the schedule to allow for active networking with colleagues attending the other Summits. Students in supply management degree programs are invited to attend.
Student teams will present cases on the morning of February 9, 2012. In addition to showcasing the next generation of supply management talent, student team members will also hear from practitioners on how to establish themselves in the supply management profession.
For those with supplier diversity responsibilities, take the Certified Professional in Supplier Diversity® (CPSD™) Exam before the Summit starts. Exam fees are separate from Summit registration.
Visit ISM online to review agendas and important registration information that may influence your travel and lodging plans. Registration is US$845 for ISM members and US$1,045 for nonmembers. Student Member rate is US$250. An early bird registration discount is available.
All sessions are at the Hilton DFW Lakes Executive Conference Center, 1800 Highway 26 East, Grapevine, TX 76051. For hotel reservations, book online or call 800/894-1344. Please mention "ISM Diversity Summits" to secure the ISM rate. Book by January 10, 2012 to receive the special rate of US$159/single per night.
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|Website of Interest
This month's Website of Interest is: National Association of Purchasing Card Professionals (NAPCP).
National Association of Purchasing Card Professionals (NAPCP) is a membership-based professional association committed to advancing Commercial Card and payment professionals and industry practices worldwide.
NAPCP serves as an impartial resource for members at all experience levels in the public and private sectors. It provides opportunities for continuing education and peer networking through its Annual Conference, Regional Forums, audio calls, website, newsletter and regular communication.
The association sponsors research and publishes timely and relevant white papers, survey results and other documents. The NAPCP launched the Certified Purchasing Card Professional (CPCP) credential in 2006 and is guided through directives from the Purchasing Card Professional Certification Council (PCPCC), NAPCP Advisory Council and various Task Force committees.
Please note: These external Internet addresses contain information created, published, maintained or otherwise posted by institutions or organizations independent of ISM. Links from these websites, or any other website(s) accessible from these websites, to any product, entity, service or information, do not constitute a recommendation by ISM. ISM is not responsible for the contents of any other website.
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|Term of the Day
Today's ISM Term of the Day is: WORLD INTELLECTUAL PROPERTY ORGANIZATION.
Definition: An international organization dedicated to helping to ensure that the rights of creators and owners of intellectual property are protected worldwide.
A different Term of the Day is posted on the ISM Home Page each day — seven days a week. The Term of the Day is taken from the ISM Glossary of Key Supply Management Terms.
ISM members can access the online Members Only Glossary which includes terms from the private, public, and various industry sectors, and from a wide variety of sources. The Glossary can be browsed alphabetically, or searched by keyword.
Access the online Glossary.
If you are not a member but would like membership information, visit the ISM website.
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|It's Easy to Subscribe to the Just in ETime Newsletter
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If you have any questions or encounter any problems, please contact RaeAnn Slaybaugh.
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